Morning Calls & Comments (7/14)
Corn: 2 to 5 cents higher
Soybeans: 5 to 10 cents lower
Wheat: 8 to 12 cents higher
Cattle: Steady/firmer
Hogs: Steady/firmer
Wheat futures caught a bid late in the overnight session after weekly export sales greatly topped expectations. Corn followed wheat higher at the end of overnight trade, while soybeans remained weaker. The U.S. dollar index is up nearly 800 points this morning, hitting a fresh 20-year high. Front-month U.S. crude oil futures are around $1.25 lower. We anticipate a firmer open for wheat and corn, based on how the overnight session ended, but that buying may be fleeting given outside markets and macroeconomic happenings.
